Sean Hyman: Oil Set for Run to $140

West Texas Intermediate oil prices climbed to a four-month high above $103 a barrel last week, and Sean Hyman, editor of Newsmax's Ultimate Wealth Report newsletter and a Moneynews.com contributor, thinks the rally will continue.

Nasty weather in much of the United States and turmoil in oil exporting nations such as Venezuela have helped boost prices. April crude oil futures traded at $101.70 on the Nymex Tuesday morning.

"Oil has been consolidating for several years in a sideways pattern, and I believe that global demand is picking up. That's going to shoot it through the top of that range," Hyman tells CNBC.

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"Once it finally does, we will see it hit $140 faster than a lot of people's heads can spin," he predicts. That level represents a 38 percent increase from Tuesday morning's reading.